8th Cir. BAP Allows Strip Off in No-Discharge 13

Posted by NCBRC - August 29, 2011

Today the Bankruptcy Appellate Panel for the Eighth Circuit reversed a Minnesota Bankruptcy Court in Fisette v. Keller, No. 11-6012, and that a debtor may strip off wholly underwater junior mortgages when the debtor is not eligible for a discharge in chapter 13. Prior to Fisette, the bankruptcy courts in the District of Minnesota had disallowed the strip of of underwater mortgages even when the debtor was eligible for a discharge.  See the decision here.

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